Steps in the Accounting Cycle.

Steps in the Accounting Cycle.

The following are the steps for accounting cycle:

1.      Analyzing and Recording Transactions via Journal Entries
2.      Posting Transactions to Ledger Accounts
3.      Preparing Unadjusted Trial Balance
4.      Preparing Adjusting Entries at the end of the Period
5.      Preparing Adjusted Trial Balance
6.      Preparing Financial Statements
7.      Closing Temporary Accounts via Closing Entries
8.      Preparing Post Closing Trial Balance